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SENIOR SECURED PARTICIPATING NOTE · MULTIFAMILY

Ritz Banc Portfolio – Mezzanine Loan

Arlington, VA

Private-credit note secured by a 10-property, 1,646-unit multifamily portfolio (~$255.6M appraised).

Overview

Ritz Banc Portfolio – Mezzanine Loan

Crowdlender is offering accredited investors a senior secured, participating credit position in RBG Portfolio CL Investors, LLC. The Fund extends a three-year facility to Ritz Banc Group — a vertically-integrated real estate manager with a 13-year track record — secured by a first-priority pledge of RBG’s promote, management-fee, and economic interests in a ten-property, 1,646-unit multifamily portfolio carrying roughly $255.6M in independent appraised value.

Investors sit one level above the real estate: repaid from RBG’s promote and fee streams, with full recourse to RBG Holding LLC and a limited “bad-boy” guaranty from the principals. The 10% coupon delivers contractual income; a 15% promote share adds equity-flavored upside as the portfolio seasons and sells.

Quick Notes

Coupon
10% per annum (Yr 1 PIK)
Promote Participation
15% of RBG promote
Term
3-year bullet
Offering Size
$3.0M

Details

Key metrics at a glance. Talk to investor relations for the full deal package.

Estimated First Distribution
Interest-only after Year 1 (Yr 1 PIK)
Estimated Hold Period
36 Months
Investment Type
Mezzanine Participating Note
Target Avg. Cash on Cash
10%
Minimum Investment
$50,000
Investment Strategy
Private credit · Real-Asset Collateral
Target IRR
26.4%
Target Equity Multiple
1.75x

Deal Highlights

  • Downside protection: A 10% contractual coupon and a full-recourse claim on RBG, one level above the assets.
  • Equity-flavored upside: A 15% promote share that lifts the blended return toward the mid-teens.
  • Real collateral: $255.6M of independently-appraised multifamily standing behind a $3.0M facility.
  • Alignment: RBG co-invests $37.3M and its promote is pledged; it is paid last.

Management

Ritz Banc Group

Founded in 2012 and headquartered in Arlington, VA, Ritz Banc Group (RBG) is a vertically-integrated real estate and alternative-asset manager. RBG has completed $725M+ of transactions across 27 assets — predominantly Mid-Atlantic and Southeast workforce multifamily — and today manages roughly $451M across 16 active investments (~3,600 units). Its principals have $37.3M of their own capital invested alongside partners.

Management Team

Nasr El Hage

Co-Founder & Managing Director

  • Leads capital markets & investor relations; formerly Valuation Risk Analytics Manager at Freddie Mac ($85B multifamily portfolio); prior consulting at BearingPoint (now Deloitte)

M.A. Applied Economics, Johns Hopkins; B.S. Economics, George Mason

Amer A. El Souki

Co-Founder & Managing Director

  • Head of asset management; formerly an executive at Truland Systems ($200M+ of contracted work)

M.S. and B.S., George Mason

Property

Tenant Overview

Submarket Demand Drivers:

  • Predominantly Mid-Atlantic & Southeast workforce multifamily — supply-constrained, needs-based
  • ~3,600 units across the sponsor’s active portfolio
  • Steady in-migration across Virginia coastal/Richmond, the Carolinas, and Georgia
  • 2025 CBRE / Colliers appraisals on all ten collateral properties

Financials

For more information, view Ritz Banc Group's Investment Memorandum.

Capital Stack

  • Senior Secured Note (this offering) $3.0M
  • RBG Holding equity (subordinate) $34.8M
Total Capitalization $37.8M

Sources of Funds

Crowdlender investor notes (Reg D 506(c)) $3.0M
Total $37.8M

Uses of Funds

Portfolio acquisitions & equity recycling $2.25M
Platform working capital (scale-up) $0.6M
Offering & closing costs $0.15M
Total $37.8M

Debt Assumptions

Secured Participating Promissory Note

  • Lender Type: Crowdlender investors (Reg D 506(c))
  • Loan Type: Senior secured participating note
  • Estimated Proceeds: $3,000,000
  • Interest Type: 10% fixed (Year 1 PIK; cash thereafter)
  • Term: 3-year bullet; prepayable at par
  • Amortization: Interest-only; principal due at maturity
  • Notes: First-priority pledge of promote & fees (~$255.6M appraised collateral). Full recourse to RBG Holding LLC + a limited bad-boy guaranty.

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